Vitol invests in future of LNG bunkering by securing three LNG Bunkering Vessels

Vitol Secures Three LNG Bunkering Vessels for Sustainable Shipping

Vitol, through its shipping arm Vitol International Shipping Pte Ltd (VIS), has secured three LNG Bunkering Vessels (LNGBVs) to bolster its sustainable shipping efforts.

These vessels were acquired through a seven to ten-year time charter agreement with Avenir LNG Limited (Avenir) and an order for two additional vessels from the CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China.

LNG offers shipowners a way to reduce their environmental impact at competitive prices. When blended with bio-LNG, it provides a long-term solution for meeting increasingly strict emission regulations.

The agreement with Avenir covers a newbuild 20,000m3 LNGBV, with the charter beginning upon delivery from the Chinese shipyard in Q4 2026. This charter will last for seven years, with options to extend up to a decade. Additionally, Vitol has ordered one 12,500m3 and one 20,000m3 LNGBV from CIMC SOE, scheduled for delivery in Q4 2026 and Q3 2027, respectively.

Pablo Galante Escobar, Vitol’s head of LNG, EMEA gas & power, stated, “Shipowners worldwide are looking to reduce their emissions. We are delighted to strengthen our offering to them by investing in LNG/bio-LNG bunkering, thereby increasing their options.”

Vitol has been trading LNG for two decades, expanding its global presence, and trading over 17 million tonnes of LNG worldwide last year. Through its subsidiary ViGo bioenergy, Vitol is investing in bio-LNG infrastructure. As a leading provider of bunker fuels via Vitol Bunkers, Vitol is uniquely positioned to offer multifuel and decarbonization solutions, covering conventional marine fuels, biofuels, LNG & bio-LNG, and methanol.

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